Starting in July, companies working with the US government may need to protect their data from quantum computer attacks.
🔵The National Institute for Standards and Technology (NIST) will introduce three encryption algorithms to safeguard data from such threats.
🔵This marks the beginning of a new era in cryptography, according to White House deputy national security adviser Anne Neuberger.
🔵A US Senate bill passed in 2022 allows government agencies to enforce NIST standards on contracted companies.
🔵Full compliance with these standards is expected by 2035 for most projects, though some sensitive projects may require a much earlier adoption.
🔵“It’s in companies’ own interests to be leading the way there,” Neuberger said.
🔵You can read the whole article here: https://t.co/tLtb9qOf5S
🔵To be prepared for potential attacks, using a post-quantum cryptographic algorithm is of the highest importance for all organizations, companies and networks, including blockchain.
🔵The QANplatform hybrid blockchain uses the CRYSTALS-Dilithium, the NIST-recommended primary post-quantum algorithm, and has launched the world’s first private blockchain that is quantum-resistant, EVM compatible, and enables coding smart contracts in any programming language.
🔵#QANplatform's quantum-resistant technology is already being used by an EU country in the public sector. QANplatform’s technology protects government-owned cybersecurity infrastructure against quantum computing attacks.
🔵Join the Web3 revolution, test the recently released QAN TestNet: https://t.co/WStA2cPU4x
The World Economic Forum recently published an article on protecting central bank digital currency systems in the post-quantum computing age.
🔵According to the article, Central Bank Digital Currency (CBDC) systems, which aim to improve cross-border payments, expose key transaction data to the risk of quantum attacks.
🔵It says that central banks must embed cryptographic agility into CBDC systems to defend against quantum cyberattacks targeting payment infrastructure.
🔵The emphasis on developing quantum-resistant systems in the era of CBDCs is critical, as more than 98% of central banks are exploring CBDCs to improve financial inclusion and payment efficiency.
🔵Quantum computers, using qubits, can solve complex problems better than classical supercomputers but can also be used by bad actors to break public key encryption mechanisms.
🔵A quantum attack on financial systems could result in significant economic damages, including declines in GDP and triggering recessions.
🔵"A 2021 study by the Hudson Institute demonstrated that a theoretical quantum attack on the US real-time gross settlement (RTGS) system (“Fedwire Funds Service”) could result in a 10-17% decline in real GDP following the attack, which could then trigger a six-month recession and trillions in indirect losses."
🔵The WEF suggests that central banks and financial institutions should adopt quantum-resistant strategies when designing and building CBDC systems, including performing quantum security risk analysis, cataloging cryptographic mechanisms in a system, imposing strict cyber-resilience measures, embedding secure practices in the software development lifecycle, ensuring data redundancy with quantum-safe key management.
🔵To be prepared for potential attacks, using a post-quantum cryptographic algorithm is of the highest importance for all organizations, companies and networks, including blockchain.
🔵The #QANplatform hybrid blockchain uses the CRYSTALS-Dilithium, the NIST-recommended primary post-quantum algorithm, and has launched the world’s first private blockchain that is quantum-resistant, EVM compatible, and enables coding smart contracts in any programming language.
🔵QAN's quantum-resistant technology is already being used by an EU country in the public sector. QAN’s technology protects government-owned cybersecurity infrastructure against quantum computing attacks.
🔵Join the Web3 revolution, test the recently released QAN TestNet: https://t.co/WStA2cPU4x
Another country is about to join the exclusive club of quantum computer 'owners'.
Australia is investing heavily in a quantum computer project with PsiQuantum, a Silicon Valley startup.
🔵This project aims to be the first commercially useful quantum computer globally.
🔵The system in Australia will be “the first machine that crosses over the threshold into [being a] really useful computer — the first quantum system in the world that will be commercially useful”, claimed Pete Shadbolt, PsiQuantum’s chief scientific officer.
🔵This is a significant step towards practical quantum computing, potentially leading to breakthroughs in medicine and materials science.
🔵However, it also raises security concerns.
🔵Governments, militaries and organizations around the world will need to develop strategies to adapt to the changing security landscape brought by quantum computing.
🔵To be prepared for potential attacks, using a post-quantum cryptographic algorithm is of the highest importance for all networks, including blockchain.
🔵The QANplatform hybrid blockchain uses the CRYSTALS-Dilithium, the NIST-recommended primary post-quantum algorithm, and has launched the world’s first private blockchain that is quantum-resistant, EVM compatible, and enables coding smart contracts in any programming language.
🔵#QANplatform's quantum-resistant technology is already being used by an EU country in the public sector. QANplatform’s technology protects government-owned cybersecurity infrastructure against quantum computing attacks.
🔵Join the Web3 revolution, test the recently released QAN TestNet: https://t.co/WStA2cPU4x
We are proud to announce that QANplatform has rolled out the world’s first quantum-resistant and EVM-compatible blockchain testnet, where developers can code smart contracts in any programming language.
https://t.co/2Q9hQDrLxv
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